The budget balance under the Consolidated Fiscal Programme (CFP) on a cash basis is negative, amounting to BGN 1,582.2 million or 2.1 % of projected GDP. The deficit reported is significantly lower than the provided for in the 2011 Annual Budget Act, i.e. BGN 1,963.0 million or 2.5% of GDP. The CFP negative balance is formed by a deficit under the national budget of 1,750.0 million and a surplus under EU funds of BGN 167.9 million. For comparison the deficit in 2010 was BGN 2,822.8 million or 4% of GDP. The budget position for 2011 is improving in nominal terms by BGN 1,240.6 million of by 1.9 p.p. of GDP.
The fiscal reserve as of 31 December 2011 amounts to BGN 5.0 billion.
2011 CFP revenues and grants stand at BGN 25,378.0 or 33.3% of GDP which is 96.8% of the annual estimates. Tax and non-tax revenue implementation is very close to the annual plan - reported tax revenues and non-tax revenues have been implemented at 99.5% and 101.0% of the provided for in the 2011 Annual Budget Act respectively. In nominal terms tax revenues amount to BGN 20,591.9 million or 27.0 % of GDP, and non-tax and grants to BGN 4,786.1 million or 6,3 % of GDP.
Data on consolidated budget implementation as of 31 December 2011 are published in „Statistics" section on the website of the Ministry of Finance.